Commercial Leasing

Whether you’re a lessor or lessee, navigating the commercial lease landscape can be intricate and nuanced. Our experienced team is here to provide comprehensive legal assistance committed to supporting business through their leasing process.

Key points To know

• The lease agreement is a legally binding document that outlines the obligations of the lessor and lessee. It’s essential to thoroughly review all terms, including the duration of the lease, rent amount, and any special conditions. Each clause in the lease can have legal implications, so understanding and negotiating these terms can prevent future disputes.
• Commercial leases come in different forms – common examples are property leases, property licence and equipment leases/hire agreements. Each will require specific consideration and may have particular regulatory issues. However, leases will generally have a common documentation framework.
• A key term to a lease is rental payments – how much they are, how they are structured and what conditions allow for adjustments. This includes periodic rent reviews and adjustments based on market conditions or inflation.
• The lease should clearly outline who is responsible for maintenance and repairs. This includes routine upkeep and any major repairs needed during the lease term. Ensuring that these responsibilities are clearly defined helps prevent disputes and ensures that the property remains in good condition.
• Disputes may arise over various issues, such as maintenance disputes, rent increases, or lease breaches. a mechanism in the lease agreement providing for dispute resolution, such as mediation or arbitration, can help provide a clear path for resolving issues efficiently and amicably.
• If you need to assign the lease to another party or sublet part of the property, the lease agreement will outline the process and any conditions. Some leases require landlord approval for assignment or subletting. Understanding these terms is essential to ensure compliance and avoid breaching the lease.
• At the end of the lease term, you may wish to renew or terminate the lease. The lease should include clear terms regarding renewal options, including any conditions or rent adjustments. If you need to terminate the lease early, understand the procedures and any penalties associated with early termination to avoid unexpected costs.